DOJ's probe of Fed's Powell: What investors need to know

Morning Brief host Julie Hyman and Yahoo Finance Markets and Data Editor Jared Blikre track several of Monday's top trending stock tickers, including Paramount Skydance (PSKY) launching a proxy battle against Warner Bros. Discovery (WBD), Meta Platforms (META) hiring former Trump security advisor Dina Powell McCormick as its new president and vice chair, and Abercrombie & Fitch (ANF) plummeting on its fourth quarter guidance.

The US Department of Justice's (DOJ) criminal investigation launched against Federal Reserve Chair Jerome Powell raises questions about the status of the US central bank's independence, as President Trump mulls over Powell's replacement for when his term ends in May. Truist CIO and chief market strategist Keith Lerner assesses the bond market reaction to the latest headlines and how Wall Street is shifting back into the "Sell America" trade. Keith Lerner calls the Fed investigation the second "curveball" to happen in 2026.

Takeaways:

• The US Department of Justice (DOJ) has subpoenaed the Federal Reserve as it launches a criminal investigation into the central bank's Chair Jerome Powell
• US stock futures drop in Monday's premarket as Wall Street finds the "Sell America" trade to be back on, finding safe haven in precious metals like gold and silver
• Earnings season kicks off for major bank stocks and Delta Air Lines (DAL) this week. 

Yahoo Finance's flagship show, Morning Brief, is your go-to source for smarter investing and market moves.

Thoughts? Questions? Fan mail? Email us at ⁠yfpodcasts@yahooinc.com⁠.

Learn more about your ad choices. Visit megaphone.fm/adchoices